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20121027
20121104
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. [applause] >> good morning. i too am here and happy to be here with scott and rick and jerry. no one else. [laughter] i too want to thank, you know, george washington law and art, others who have done this. it is a terrific program. it is good they do it every year. and i thank them for inviting me and i hope after my remarks i can get invited again. i'm in charge of better markets which is a nonprofit organization that promotes the public interest in the financial markets. you want to talk about a lonely job, join us. to insure i dei have so the compliment frequently sent my way as the manual street loves to hate, i thought i would take, make a few comments on some overarching issues often unspoken. a lot to say. not much time. i'm from boston, i talk fast. if you're thinking of sleeping at this time you want to leave now. very quickly, two quick things on what peter had to say. many my remarks will address them. to say i disagree undo the line would be an understatement. first it ignores the entire fact there was implicit guaranty prior to the crisis all the too-big-to-fail banks would
panel, i must say, and i always enjoy being on a panel with scott and with rick so it's -- i think we're going to have an interesting discussion. [laughter] i want to take on just about everything that was said so let me get started. i have 10 minutes to do this. title i. tide l i of dodd-frank. right now, as you heard, it designates, in effect, the statute designates 36 bank holding companies as libel to create instability in the u.s. economy if they fail. in addition, it goes on to permit the financial state of the oversight council to designate an unknown number of additional notary public-bank institution -- non-bank institutions that could create instability in the u.s. economy if they fail. what does it mean when congress gives this authority to the fsoc or designates these -- this notion in the statute? what it says is these institutions are too big to fail so not only are we worried about the problem of too big to fail, but we have now made the problem worse by actually embedding it in the statute for the banking institutions and permitting the fsoc to designate certain instit
Search Results 0 to 1 of about 2